GrainCorp holds out on $3.3bn bidder

Original article by Andrew White
The Australian – Page: 17 & 20 : 4-Dec-18

Belinda Moore of Morgans Financial has described a $3.3bn takeover bid for GrainCorp as "opportunistic" due to the drought on Australia’s east coast. Meanwhile, GrainCorp directors are seeking more information on the financial backers of Long-Term Asset Partners, whose offer of $10.42 per share represents a premium of 43 per cent to GrainCorp’s closing price on 30 November. LTAP is chaired by Australian businessman Tony Shepherd. GrainCorp shares closed $1.95 higher at $9.25 on 3 December.

CORPORATES
RANCOR LIMITED – ASX GNC, LONG-TERM ASSET PARTNERS PTY LTD, MORGANS FINANCIAL LIMITED, GOLDMAN SACHS AUSTRALIA PTY LTD, ELLERSTON CAPITAL PTY LTD, PERPETUAL LIMITED – ASX PPT, ARCHER DANIELS MIDLAND COMPANY, BGH CAPITAL PTY LTD, AUSTRALIANSUPER PTY LTD, NAVITAS LIMITED – ASX NVT, HEALTHSCOPE LIMITED – ASX HSO, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, LONG TERM ALPHA ONE, LONG-TERM ASSET PARTNERS NOMINEES, AURIZON HOLDINGS LIMITED – ASX AZJ, DEUTSCHE BANK AG, WESTBOURNE CAPITAL PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s